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Izzy Englander’s Millennium has added to its EMEA middle office team this month with the appointment of Karl Hopper as its new middle office head for the region, and Simon Lodder as the new head of advisory compliance for EMEA, according to a report by eFinancialCareers.
Sterling and gilts are beginning to attract the attention of a number of hedge funds following their market mauling sparked by the UK government’s mini-budget of unfunded tax cuts, according to a report by Bloomberg.
Emerging Asia-focused hedge funds are on course to record their worst annual returns since the global financial crisis of 2008 after posting big losses in September, according to a report by the International Business Times.
The report cites information from data provider HFR as showing that the HFRI Asia ex-Japan Index slumped 7.7% in September, the worst single month performance since March 2020. Q3 performance cams in at -10.4%, compared with a 4% decline in the previous quarter.
The index is down 22.8% in the first nine months of the year, its biggest decline since a 26.4% fall over the
Hedge funds faced a tough September amid a market downturn that saw major indices fall steeply over the course of the month, according to the latest monthly hedge fund update from Citco. The overall weighted return for hedge funds administered by Citco fell to -3.1% from the -0.6% seen in the previous month.
Commodities and global macro funds were the top performers, with positive returns of 1.9% and 1.8% respectively, while equities and multi-strategy provided some of the weakest returns with respective weighted average returns of -2.8% and -5.6%.
Larger funds fared worse than their smaller counterparts with those in the
Dechert LLP has appointed Matthias Kerbusch as a partner in the firm’s financial services group on Luxembourg.
Advisors are increasingly leaning on private funds and alternative investments amid volatile equity and bond markets, according to a bi-annual survey by Broadridge Financial Solutions.
Activist hedge fund Starboard Value is calling on Salesforce to capitalise on its market-leading position and increase margins, having acquired a significant stake in the cloud software specialist, according to a report by the Financial Times.
Shares of Salesforce have slumped by around 40% so far in 2022 – double the drop seen by rival from Oracle over the same period – on the back of what Starboard attributes to be a “subpar mix of growth and profitability”.
Salesforce shares closed up more than 4% on Tuesday when news of Starboard’s stake broke.
The $8.4 billion New York-based fund, which
The US Securities and Exchange Commission’s (SEC) drive to increase transparency and competition in the hedge fund industry is ultimately aimed at reducing the fees paid by investors, according to a report by Reuters.
The report quotes William Birdthistle, director of the Division of Investment Management at the SEC, as saying that increased competition and transparency will lead to lower fees and better liquidity arrangements, “with fees going down that will mean more money going to end investors.”
Birdthistle, who was speaking at a Managed Funds Association conference in London, referenced a new set of rules that the SEC initially
Intercontinental Exchange, a global provider of data, technology, and market infrastructure, and home to the most liquid markets for trading FTSE derivatives, is to launch a FTSE 100 Index Total Return Future (TRF) on 14 November, 2022, subject to regulatory approval.
The ICE FTSE 100 Index TRF seeks to replicate the theoretical returns on a FTSE 100 index total return swap in a more cost-efficient and transparent way, allowing participants to manage or gain exposure to the FTSE 100 index, including its market and dividend risk, without owning the cash underlying.
The TRF contract enhances ICE’s FTSE Index franchise, which
The latest JPMorgan Chase & Co Treasury client survey has revealed that hedge funds were net buyers of Treasury futures exposed most to interest-rate risk in the week ending 11 October, according to a report by Bloomberg, acquiring a total of 25,000 10-year note futures equivalents.
Having added to short bets in the two previous weeks, asset managers added to net long duration bias for the third week in a row, by around 18,000 10-year note futures equivalents.
Most hedge fund activity was seen across long-bond and ultra-long bond futures, with net short positions being cut by a combined $5.8
